An oil company purchased an option on land in Alaska. Preliminary geologic studies assigned the followingprior probabilities.P(high-quality oil)= 0.40P(medium-quality oil) = 0.15P(no oil) = 0.45a. What is the probability of finding oil (to 2 decimals)?0.55b. After 200 feet of drilling on the first well, a soil test is taken. The probabilities of finding the particular typeof soil identified by the test are given below.P(soil|high-quality oil)= 0.25P(soil|medium-quality oil) = 0.90P(soil|no oil)= 0.25Given the soil found in the test, use Bayes' theorem to compute the following revised probabilities (to 4decimals).P(high-quality oil soil) 0.2424P(medium-quality oil|soil)0.5488P(no oil|soil)0.2121What is the new probability of finding oil (to 4 decimals)?0.4125According to the revised probabilities, what is the quality of oil that is most likely to be found?Medium-quality

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Answered: An oil company purchased an option on…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Hospitals typically require backup generators to provide electricity in the event of a power outage. Assume that emergency backup generators fail 42% of the times when they are needed. A hospital has two backup generators so that power is available if one of them fails during a power outage. Complete parts (a) and (b) below. a. Find the probability that both generators fail during a power outage. (Round to four decimal places as needed.) b. Find the probability of having a working generator in the event of a power outage. Is that probability high enough for the hospital? Assume the hospital needs both generators to fail less than 1% of the time when needed. (Round to four decimal places as needed.) Is that probability high enough for the hospital? Select the correct answer below and, if necessary, fill in the answer box to complete your choice. O A. No, because both generators fail about % of the time they are needed. Given the importance of the hospital's needs, the reliability should…
Hospitals typically require backup generators to provide electricity in the event of a power outage. Assume that emergency backup generators fail 21% of the times when they are needed. A hospital has two backup generators so that power is available if one of them fails during a power outage. Complete parts (a) and (b) below. a. Find the probability that both generators fail during a power outage. (Round to four decimal places as needed.) b. Find the probability of having a working generator in the event of a power outage. Is that probability high enough for the hospital? Assume the hospital needs both generators to fail less than 1% of the time when needed. |(Round to four decimal places as needed.) Is that probability high enough for the hospital? Select the correct answer below and, if necessary, fill in the answer box to complete your choice. O A. Yes, because both generators fail about % of the time they are needed, which is low enough to not impact the health of patients. (Round…
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Find the indicated probability and interpret the result. From 1975 through 2020, the mean annual gain of the Dow Jones Industrial Average was 653. A random sample of 34 years is selected from this population. What is the probability that the mean gain for the sample was between 400 and 800? Assume o = 1540. The probability is (Round to four decimal places as needed.) Interpret the result. Select the correct choice and fill in the answer box to complete your choice. (Round to two decimal places as needed.) O A. About OB. About OC. About OD. About % of samples of 46 years will have an annual mean gain between 400 and 800. % of samples of 34 years will have an annual mean gain between 653 and 800. % of samples of 34 years will have an annual mean gain between 400 and 800. % of sampl of 34 years will have an annual mean gain between 400 and 653.
Based on a poll, among adults who regret getting tattoos, 12% say that they were too young when they got their tattoos. Assume that nine adults who regret getting tattoos are randomly selected, and find the indicated probability. Complete parts (b) through (c) below. a. Find the probability that none of the selected adults say that they were too young to get tattoos. 0.3165 (Round to four decimal places as needed.) b. Find the probability that exactly one of the selected adults says that he or she was too young to get tattoos. (Round to four decimal places as needed.) c. Find the probability that the number of selected adults saying they were too young is 0 or 1. (Round to four decimal places as needed.)
The mean percent of childhood asthma prevalence in 43 cities is 2.38%. A random sample of 30 of these cities is selected. What is the probability that the mean childhood asthma prevalence for the sample is greater than 2.8%? Interpret this probability. Assume that o = 1.25%. The probability is (Round to four decimal places as needed.) Interpret this probability. Select the correct choice below and fill in the answer box to complete your choice. (Round to two decimal places as needed.) O A. About % of samples of 43 cities will have a mean childhood asthma prevalence greater than 2.8%. O B. About % of samples of 30 cities will have a mean childhood asthma prevalence greater than 2.38%. O C. About % of samples of 30 cities will have a mean childhood asthma prevalence greater than 2.8%. Click to select your answer(s). P Type here to search 99+ a (? 1:42 PM 4/11/2021 ho insen 144 ese & t backspace %23 3. %24 4 6. 8 2. Y W tab H. J. K pase 5 R
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